MasterBrand (NYSE:MBC) Reaches New 1-Year Low – What’s Next?

MasterBrand, Inc. (NYSE:MBC) shares hit a new 52-week low during trading on Monday . The company traded as low as $13.77 and last traded at $13.76, with a volume of 64225 shares traded. The stock had previously closed at $13.99.

Analysts Set New Price Targets

Separately, Loop Capital reduced their price target on MasterBrand from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th.

MasterBrand Price Performance

The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. The company’s 50 day moving average is $15.88 and its 200-day moving average is $16.64. The stock has a market cap of $1.74 billion, a PE ratio of 14.06 and a beta of 1.58.

MasterBrand (NYSE:MBC) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.17). The firm had revenue of $667.70 million during the quarter, compared to analyst estimates of $722.85 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

Insider Buying and Selling

In other news, Director Juliana L. Chugg purchased 6,989 shares of the company’s stock in a transaction on Monday, February 24th. The shares were bought at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the completion of the purchase, the director now owns 33,424 shares of the company’s stock, valued at $473,618.08. This trade represents a 26.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On MasterBrand

Institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its holdings in MasterBrand by 150.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock worth $37,000 after acquiring an additional 1,549 shares during the period. Quest Partners LLC lifted its holdings in shares of MasterBrand by 33.3% in the third quarter. Quest Partners LLC now owns 3,285 shares of the company’s stock valued at $61,000 after purchasing an additional 821 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of MasterBrand by 52.4% in the third quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock worth $66,000 after buying an additional 1,216 shares during the period. TD Private Client Wealth LLC grew its holdings in shares of MasterBrand by 39.9% during the third quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock valued at $89,000 after buying an additional 1,364 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of MasterBrand by 52.0% during the fourth quarter. KBC Group NV now owns 5,800 shares of the company’s stock valued at $85,000 after buying an additional 1,983 shares in the last quarter. Institutional investors own 87.32% of the company’s stock.

About MasterBrand

MasterBrand, Inc engages in the manufacture and sale of residential cabinets in the United States and Canada. The company offers a range of residential cabinetry products for the kitchen, bathroom, and other parts of the home. It sells its products to remodeling and new construction markets through dealers, retailers, and builders.